Background*

Dr. Axel P. Lehmann, Ph.D. has been ber of the Group Management Board at Zurich Insurance Group AG (alternate name, Zurich Financial Services AG) since November 2000 and serves as its Regional Chairman of Europe. Dr. Lehmann is responsible for Zurich Group wide business development functions. He served as the Group Chief Risk Officer at Zurich Insurance Group AG from January 2008 to July 1, 2015. He served as the Chief Executive Officer of Zurich Holding Company of ... America, Inc. He has been regional chairman of Europe at Zurich Insurance Group AG since October 1, 2011. He served as the Group Chief Risk & Technology Officer of Zurich Insurance Group AG since January 1, 2008. He served as a Commercial Chief Executive Officer of Zurich American Insurance Company (alternate name, Zurich North America) of Zurich Insurance Group AG from September 2004 to January 1, 2008 and also served as its Chief Executive Officer of Continental Europe Business Division since March 2002. In 1996, Dr. Lehmann joined Zurich as a Member of the Executive Management team of Zurich Switzerland and subsequently held various executive management and corporate development positions within Zurich Switzerland. In September 2001, he took over responsibility for the former Northern Europe region and subsequently was appointed Chief Executive Officer of the Zurich Group Germany. In March 2004, he was in charge of the consolidation of the former Business Divisions Continental Europe and UKISA (United Kingdom, Ireland and Southern Africa) and as of March assumed responsibility for the creation of the integrated General Insurance Europe Division. Since 1985, Dr. Lehmann worked as a Project Manager and Research Associate at the Institute for Insurance Economics at the University of St. Gall. Since 1990, he served as Vice President and Head of Consulting and Management Development at the Institute for Insurance Economics and the European Center. He served as Head of Corporate Planning and Corporate Controlling of Swiss Life in Zurich since 1995. Dr. Lehmann is an honorary professor and senior lecturer for business administration and service management at University of St. Gall in Switzerland. He was a lecturer at several universities and institutes and became vice-president of the Institute of Insurance Economics at the University of St Gallen and the European Centre responsible for Consulting and Management Development. He serves as Chairman of the Global Agenda Council on the Global Financial System of WEF He has been Chairman of the Board at Farmers Group, Inc. since June 30, 2011. Dr. Lehmann serves as the Chairman of the Board of the Institute of Insurance Economics (I.VW-HSG). He serves as Supervisory Board member of Zurich Beteiligungs-AG. He has been a Director at UBS AG since April 15, 2009 and Farmers Group, Inc. since June 30, 2011. He serves as a Member and served as Chairman of the Chief Risk Officer Forum; and Member of the Executive Committee of the International Financial Risk Institute Foundation. He served as a Senior Lecturer and assistant professor at the University of St. Gallen. In 1989, he was appointed a lecturer in Business Administration. In 1994 and 1995, he served as a Visiting Professor at Bocconi University in Milan, Italy. In 1989, he was awarded the title of doctor (Dr. oec. HSG) and his PhD thesis was awarded the Peter Werhahn Prize for the best thesis in the area of management science and academic theory. He completed research study at Harvard Business School and Arizona State University. Dr. Lehmann is a graduate of the Wharton School Advanced Management Program. He holds an MBA and PhD (1996) from the University of St. Gallen in Switzerland. He completed his post-doctoral graduation in Business Administration and Economics at the University of St. Gallen in 1984 with a focus on Risk Management and Insurance Economics.

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